United States Steel Co. (NYSE:X) Receives $37.89 Average Price Target from Analysts

Shares of United States Steel Co. (NYSE:X) have received an average rating of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $37.89.

Several research analysts have recently commented on X shares. StockNews.com initiated coverage on shares of United States Steel in a report on Sunday, April 21st. They issued a “hold” rating for the company. BMO Capital Markets decreased their target price on shares of United States Steel from $55.00 to $45.00 and set a “market perform” rating for the company in a research report on Tuesday, March 19th. Wolfe Research upgraded shares of United States Steel from a “peer perform” rating to an “outperform” rating and set a $46.00 price target on the stock in a research note on Tuesday, April 9th. Morgan Stanley downgraded United States Steel from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $40.00 to $51.00 in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. began coverage on United States Steel in a research report on Friday, January 12th. They issued a “neutral” rating and a $52.00 target price on the stock.

United States Steel Price Performance

X opened at $37.42 on Friday. United States Steel has a 52-week low of $20.40 and a 52-week high of $50.20. The company has a 50 day moving average of $42.44 and a two-hundred day moving average of $41.33. The company has a market cap of $8.41 billion, a P/E ratio of 10.66 and a beta of 2.00. The company has a quick ratio of 1.22, a current ratio of 1.76 and a debt-to-equity ratio of 0.37.

United States Steel (NYSE:X) last announced its earnings results on Friday, February 2nd. The basic materials company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.46. United States Steel had a net margin of 4.96% and a return on equity of 10.80%. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the prior year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. On average, analysts expect that United States Steel will post 2.99 earnings per share for the current year.

United States Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 12th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.20 annualized dividend and a yield of 0.53%. United States Steel’s payout ratio is presently 5.70%.

Institutional Investors Weigh In On United States Steel

Several hedge funds have recently made changes to their positions in X. Pacific Capital Wealth Advisors Inc. acquired a new stake in United States Steel during the 4th quarter worth about $25,000. Byrne Asset Management LLC raised its stake in shares of United States Steel by 1,140.0% during the 1st quarter. Byrne Asset Management LLC now owns 620 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 570 shares in the last quarter. GAMMA Investing LLC bought a new position in United States Steel during the fourth quarter valued at approximately $33,000. Riverview Trust Co acquired a new position in shares of United States Steel during the 1st quarter worth $29,000. Finally, Pineridge Advisors LLC acquired a new position in United States Steel during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

United States Steel Company Profile

United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. The company operates through North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular) segments. The Flat-Rolled segment offers slabs, strip mill plates, sheets, and tin mill products, as well as iron ore and coke.